Miami Beach Watersports Center Inc

Analysis

Miami Beach Watersports Center Inc is a registered charity in United States, based in Miami Beach, FL. It received its IRS tax-exemption ruling in March 1996, 30 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Miami Beach Watersports Center Inc reported income of $1.0m and spending of $978k, spending 95% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.0m to $1.0m (+2.7%), an average of +0.7% a year. The sharpest change came in the year to June 2022, when income rose by 30%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Miami Beach Watersports Center Inc sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 82nd percentile within FL. Charities of a similar size with the same main cause include First Ward Community Service ($1.0m), Sunnyside Foundation Inc ($1.0m) and School Age Child Care of Leonia Inc ($1.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 55% and program service revenue 44% of the total. Compensation of current officers, directors and key employees was $80k (8.2% of expenses). Other salaries and wages came to $314k. At year end it held assets of $935k against liabilities of $852k, net assets of $83k. It reported 18 employees.